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Nov 2024, Hunan Petrochemical Company Profile

Sinopec Hunan Petrochemical Co., Ltd. was formed by the integration of the former Baling Petrochemical and Changling Refining and Chemical (the two companies were personally approved by Premier Zhou Enlai in the late 1960s). In the past two years, under the guidance and support of national ministries and commissions, the Hunan Provincial Party Committee and the Provincial Government, and the Sinopec Party Committee, the company has adhered to the idea of ​​"promoting reform through development and promoting development through reform" and actively promoted integrated development and reform. Hunan Petrochemical completed its industrial and commercial registration on June 6, 2023 and officially achieved integrated operations on January 1, 2024.

The company currently has a product chain of oil refining, caprolactam-polyamide, elastomers, epoxy resins, propylene oxide, asphalt-carbon materials, etc. Among them, the primary processing capacity of oil refining is 10 million tons/year, the production capacity of caprolactam is 1 million tons/year (including 400,000 tons of Hengyi in Zhejiang Baling), the production capacity of thermoplastic elastomer is 550,000 tons/year (including 170,000 tons in Hainan Baling), the production capacity of epoxy resin is 120,000 tons/year, and the production capacity of propylene oxide is 100,000 tons/year. There are more than 100 main products. There are 10,804 registered employees and 9,153 employees on the job. In 2023, a total of 9.5 million tons of crude oil will be processed, with an operating income of 75.6 billion yuan and taxes and fees of 11.1 billion yuan.

The company attaches great importance to scientific and technological innovation, and has won 27 national awards in total, including 1 first prize in the National Technological Invention Award, 5 first prizes in the National Science and Technology Progress Award, and 1 China Industrial Award. It has more than 640 authorized patents and has been rated as an innovative enterprise of Sinopec. Its production technologies for caprolactam, thermoplastic elastomers, epoxy resins, propylene oxide, etc. are all world-leading, and all have independent intellectual property rights.

The company has successively won the honorary titles of the first batch of national first-class enterprises, national civilized units, national May 1st Labor Medal, national advanced grassroots party organization, and national outstanding enterprise for ideological and political work.

In the next step, the company will focus on building the development positioning of Hunan Petrochemical as "characteristic, green and outstanding", implement the development strategy of "innovation-driven, value-oriented, green and intelligent, and talent-driven", adhere to the development path with the construction of "1 million tons/year ethylene refining and chemical integration project" as the core, promote the formation of an industrial structure of "clean oil products + modern chemical industry + high-end chemical new materials", and strive to realize the development vision of "building a world-leading green petrochemical new materials innovation base".

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